Intraday Market Thoughts

Archived IMT (2009.05.14)

by Ashraf Laidi
May 14, 2009 17:06

Dollar and yen losing their previous gains as stocks gradually accelerate their gains. Cable seeks to test the $1.5220 resistance while USDCAD seen supported at 1.1660. Swiss National bank reiterating its calls to stem franc strength, which briefly supported EURCH. The jump in jobless claims failed to dampen market sentiment as it was argued to be mostly Auto-sector related. Today's combination of rising jobless claims & rising PPI was well received, but let us see how tomorrow's CPI-Industrial Production plays out. Gold hardly moves at 920-925, whikle oil drifgts around $57.50 and $57.90. NZDUSD resistance capped at 0.5980s, USDJPY capped at 96.40.


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